Xilinx Inc. (XLNX) Downgraded to “Neutral” at Robert W. Baird
Xilinx Inc. (NASDAQ:XLNX) was downgraded by research analysts at Robert W. Baird to a “neutral” rating in a note issued to investors on Wednesday.
Several other equities research analysts also recently weighed in on XLNX. Zacks Investment Research downgraded Xilinx from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Xilinx in a report on Wednesday, July 6th. Jefferies Group increased their price target on Xilinx from $48.00 to $50.00 and gave the stock a “hold” rating in a report on Thursday, July 28th. MKM Partners increased their price target on Xilinx from $45.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, July 28th. Finally, Citigroup Inc. increased their price target on Xilinx from $46.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $50.09.
Shares of Xilinx (NASDAQ:XLNX) opened at 50.99 on Wednesday. The stock has a market cap of $12.93 billion, a price-to-earnings ratio of 24.18 and a beta of 1.30. Xilinx has a 12-month low of $40.44 and a 12-month high of $55.49. The stock’s 50 day moving average is $53.42 and its 200-day moving average is $48.73.
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Xilinx (NASDAQ:XLNX) last posted its quarterly earnings data on Wednesday, July 27th. The programmable devices maker reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.05. The business earned $574.90 million during the quarter, compared to the consensus estimate of $571.06 million. Xilinx had a return on equity of 21.83% and a net margin of 25.28%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 earnings per share. Equities analysts anticipate that Xilinx will post $2.22 EPS for the current fiscal year.
In other news, Director William G. Howard, Jr. sold 12,000 shares of Xilinx stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $51.15, for a total value of $613,800.00. Following the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $613,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marshall C. Turner sold 16,000 shares of Xilinx stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $50.00, for a total value of $800,000.00. Following the completion of the transaction, the director now directly owns 49,384 shares in the company, valued at $2,469,200. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its position in Xilinx by 21.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,297 shares of the programmable devices maker’s stock valued at $106,000 after buying an additional 407 shares in the last quarter. Pinkerton Retirement Specialists LLC purchased a new position in Xilinx during the second quarter valued at $119,000. Compagnie Lombard Odier SCmA raised its position in Xilinx by 12.4% in the second quarter. Compagnie Lombard Odier SCmA now owns 2,822 shares of the programmable devices maker’s stock valued at $130,000 after buying an additional 312 shares in the last quarter. Mizuho Asset Management Co. Ltd. raised its position in Xilinx by 94.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,186 shares of the programmable devices maker’s stock valued at $147,000 after buying an additional 1,548 shares in the last quarter. Finally, Creative Planning raised its position in Xilinx by 2.4% in the second quarter. Creative Planning now owns 3,472 shares of the programmable devices maker’s stock valued at $160,000 after buying an additional 81 shares in the last quarter. 91.37% of the stock is currently owned by institutional investors and hedge funds.
Xilinx, Inc (Xilinx) is engaged in designing and developing programmable devices and associated technologies. The Company’s programmable devices and associated technologies include integrated circuits (ICs) in the form of programmable logic devices (PLDs), including programmable System on Chips (SoCs) and three-dimensional ICs (3D ICs); software design tools to program the PLDs; targeted reference designs; printed circuit boards, and intellectual property (IP), which consists of Xilinx, and various third-party verification and IP cores.
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